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Mar 17, 2013 1:00pm EDT
-- the $975 billion in spending? >> yes. >> how can you use those as reducing the deficit and also replacing the increased spending in the sequester? isn't that double counting the money? rex we are using a current policy baseline, as is mr. ryan. here thinksk anyone the sequester will remain in effect as is. esther ryan doesn't think that. in fact, he and does all of the defense cuts and puts it all on the defense -- on the nondefense side. >> mr. ryan's budget is honest and it's paid for. you can look at it. , you being aidea technical person should be the first to understand this, that the law is not the law. we have a budget sequester now and, if it's eliminated, it raises $1.1 trillion. you have told the american people that you will reduce the deficit by $1.9 trillion. and i believe you are using the money twice. i believe your providing cuts that you are now telling me are used to pay down the sequester. isn't that correct? >> no, sir. , keepingd of the day consistent with simpson-bowles, we have 4.3 trillion dollars in savings. whether you start with your current policy baseline, we
Mar 18, 2013 8:00pm EDT
and corporations. yet my friends on the other side my friends continue pushing this approach in the name of deficit reduction, but their own leadership admitted we don't have a debt crisis in the country. the architect, congressman paul ryan, said we don't have a debt crisis. speaker boehner said it's not an immediate problem. why should we enact this budget while democrats have a balanced approach to protect the middle class. why should we pass a budget that gets 66% of its cuts from programs for people of low or moderate income. why should we pass a budget that cuts pell grants that helps students or cuts the snap program that helps to feed 48 million people to give a $200,000 tax cut to millionaires? the budget put forward by the congressional black caucus continues the snap program to prevent americans from going hungry. while at the same time, reducing the deficit by $2.8 trillion over 10 years. the american people know we can't cut our way to prosperity, nor can we succeed by pursuing the same failed policies that undermine our economic recovery. the congressional black caucus budget offers a
Mar 20, 2013 5:00pm EDT
federal revenues should be changed, deficits, public debt and debt held by the public. the presiding officer: without objection, so ordered. mrs. murray: i ask unanimous consent the following members of my budget committee staff be granted full floor access for the duration of the consideration of s. con. res. -- john rider and rick jones. the presiding officer: without objection, so ordered. mrs. murray: finally, mr. president, i ask unanimous consent the period of debate for economic goals and policy under section 305-b of the congressional budget act occur on march 21 at a time to be determined by the two managers. the presiding officer: without objection, so ordered. mrs. murray: thank you, mr. president. we are now on the floor of the senate with the budget. i want to thank my counterpart, mr. sessions, for all his work and his staff's work and my staff's to get us to the point here that we are debating this bill and this amendment. senator sessions has been very gracious in working with us. we have gotten to this. we obviously have differences of opinion, but i want to commend
Mar 20, 2013 1:00pm EDT
for two minutes. ms. castor: democrats and republicans agree that deficit reduction is important. in fact, over the past year and a half we have achieved over $2.7 trillion in debt reduction. now the republicans want to take us through a charade with this tea party budget. if enacted, the republican budget would weaken america's recovery. it would undermine what makes america great and what makes america strong. like education, the ability of students to attend college, medical research and inthe noah vation, the about of -- ability of our older neighbors to live their lives in dignity in their retirement years through medicare and long-term care. now we get a lot of advice and economists across the board, in fact, our own congressional budget office, advise that the best and fastest way to reduce the deficit to is to make sure people across america have jobs and are working. it is inexplicable that the republican budget proposes to eliminate jobs in construction, in education, scientific research, and instead heaps the burden on middle class families. experts predict the republican budge
Mar 14, 2013 9:00am PDT
are for better or worse, ingrained features of the american economy. since when did cutting the deficit become such a big budget priority. we'll discuss the gop's attention deficit disorder when the ranking member of the house budget committee, congressman chris van holland joins us, just ahead. >>> time for the your business entrepreneur of the week. las vegas anesthesiologist took his experience in the e.r. and created a hangover cure, using an iv-administered formula. he put it on a bus, treating suffererses up and down the strip. we're here! we're going to the park! [ gina ] oh hey, dan! i really like your new jetta! and you want to buy one like mine because it's so safe, right? yeah... yeah... i know what you've heard -- iihs top safety pick for $159 a month -- but, i wish it was more dangerous, like a monster truck or dune buggy! you can't have the same car as me! [ male announcer ] now everyone's going to want one. let's get a jetta. [ male announcer ] volkswagen springtoberfest is here and there's no better time to get a jetta. that's the power of german engineering. right now lease on
Mar 19, 2013 5:00pm EDT
and leave a nearly $6 trillion hole in the deficit that would lead to tax increases for middle-income families. that isn't balance. that is total imbalance. at the same time, republicans propose cutting $3.3 trillion from programs for people with low and moderate incomes, including hundreds of billions of dollars for food nutrition and medicaid programs. so i want to end by asking the republicans when they come and talk about their tax proposals to name a specific that they would address. it's not in the republican budget. name one, name two, name three. otherwise, it's worse than empty. the chair: the time of the gentleman has expired. the gentleman from wisconsin. mr. ryan: with that, mr. chairman, i yield three members to the gentleman from indiana, r. rokita. mr. rokita: i thank chairman ryan in bringing this budget to the floor. i rise in high support of it. i also am very proud, one of the highest honors i have had in my short time here to serve on this committee. not because of chairman ryan only, but because of the members. by members, i mean republican and democrat mem
Mar 14, 2013 8:00pm EDT
will be running deficits throughout the decade no matter what budget is accepted throughout the committee. if you look at the house budget, it does not balance until we get to the end of the decade. during that, we should not be taking a pay raise. >> without objection, a vote. all those in favor, say aye. n. ay. -- -- opposed, nay. approved. i have a terrible time with the change my husband racks around in his pockets. i cannot imagine more of it. [laughter] >> in light of your fervent opposition -- [laughter] i would withdraw my amendment because i think i would have a better chance with the banking committee. >> without objection, the amendment is withdrawn. that moves us to senator portman. >> are we on medical malpractice? this state's $62 billion on the congressional budget office report. madame chair, i would encourage a vote on this. i think it might give us the opportunity to work on something if it goes to the floor if we were to have a vote today. >> i oppose this amendment. if there is no objection, say aye. opposed, nay. it is not agreed to. you have another amendment. >> recall ear
Mar 17, 2013 10:30am EDT
. and we should. because we owe it to the country. after years of trillion dollar deficits we owe the american people a responsible balanced budget. and for the third year in a row we in this committee will be delivering it. this time, our plan balances the budget in just 10 years without raising taxes. how do we do it? we stop spending money we don't have. historically we have paid a little less than one fifth of our income in taxes to the federal government each and every year but the government has spent much more. so we match spending with income. we spend no more than we take in each year or about 19.1% of gross domestic product at the end of the budget window. as a result we spend 4.6 trillion less over the next ten years. every family needs to live within the budget. we think the federal government should do as well. it's a reasonable goal. just look at where we are and look at where we're going. today, our national debt is bigger than our entire economy. unless we change course, we will add another 9 trillion over the next ten years to our national debt. that debt will wei
Mar 20, 2013 1:00am EDT
to work, taking a shared responsibility approach to our long-term deficits so we bring them down in a balanced smart way and they rejected the idea that we're going to move the economy forward by giving windfall tax cuts to the very wealthiest in the country and the benefits of that would trickle down and lift everybody up. they rejected that lopsided approach that balance the budgets on the backs of everybody but the folks at the very top. balance the budget on the backs of our kids' education by slashing important investments. in that category of spending we make these important investments for our country and our future, they double the cut from the sequester. so those are our investments in our kids' education. those are our investments in science and research to help power our economy. those are our investments to help modernize our infrastructure. they cut transportation by 15% when we have 15% unemployment in the construction industry. so mr. chairman, the american people rejected the kind of uncompromising lopsided approach that we see once again presented here in the hou
Mar 14, 2013 6:00am EDT
a moral imperative to control our deficit. the best way to shrink our deficit is to grow our economy. to grow good paying jobs and put hard-working americans back to work. unemployment remains stubbornly high. we have seen the enemy and he is us. our bloated and inefficient federal government does not promote but stifles progress. it makes us less competitive in the world. we are not being beaten by our competitors worldwide. we are beating ourselves. through excessive taxation and regulation, the federal government stifles economic growth and shifts more and more american jobs overseas every year. on a regulation in energy robs the middle class through higher fuel costs, slows our path to a national energy independence, and costs hundreds of thousands of new american jobs in the energy industry. small banks are a primary source of capital for middle-class families and small businesses. the added burden of the dodd- frank regulations, hamstrings our banks at a time when small businesses and middle-class families need them the most. it does nothing to prevent large institutions from b
Mar 13, 2013 9:00am PDT
and came to this conclusion. >> the obama care repeal accounts for more than half of the deficit reduction in mr. ryan's bucket, which pretty much closes the book on it as a serious guide to future policy. joining us again from washington is msnbc policy analyst "the washington post" columnist, the ultracelebrator of budget season, ezra klein. i don't even know in ultra--celebrator is a term or correct english, but so happy to have you here. >> happy to be here. >> we may have to interrupt this any moment, as you know we are on smoke watch here. that's a live shot of the chimney. we'll bring you the latest there. that's one caveat as we go forward. ezra, yesterday we had a long discussion about whether or not paul ryan's budget was a serious budget. i want to go off the editorial board noting "the washington post," what do you make of that contention, that so much is base odd gimmickry and it can't be considered serious? >> i don't know that i would call it gimmickry, right? first, he doesn't repeal all of it. he keeps all the taxes, all the medicare cuts, he just repeals a part that gives
Mar 14, 2013 5:00pm PDT
to balance a budget was named richard nixon. our biggest problems in the next ten years is not deficit. something that the president bases not only on facts economic theory and last four years of being president but we haveand thereduction we've already done to slow our pesky recovery, but republicans demand leadership. in an op-ed. it says for all of washington's focus on the president's outreach to republicans it's his engagement with members of his own party that will germ whether we succeed in dealing with our own challenge of dealing with our economy. meaning, he would be a true leader and we would have a budget that cuts entitlements strips money from programs from those who actually need it. and it balances out. maybe that's why the president likes to stay at home in the white house after all. joining me is peter welch of vermont, who had a chance to meet with the president today. congressman, thank you for being on "viewpoint" this evening. >> thank you. >> john: you met with the president earlier. how would you describe the meeting? were you encouraged at all by what you heard
Mar 17, 2013 9:00pm EDT
the deficit by 25% and have cut immigration by a third. we have a long, hard road to travel, but we are going in the right direction. >> hear, hear. >> mr. james morris. >> i am sure that the prime minister will wish to add his condolences to the family and friends of christina edkins, who was murdered on a bus to school in my constituency last morning. the government have rightly introduced minimum custodial sentences for people convicted of threatening someone with a knife, but does the prime minister agree that it is time to introduce a legal assumption that people carrying a knife intend to use it and should attract a prison sentence, so that we can redouble our efforts to rid our communities of the scourge of knives? >> hear, hear. >> i think that my honorable friend speaks for the whole house and, indeed, the whole country on the absolute revulsion at this horrific crime. i know that the whole house will sincere condolences to christina edkins's family. we take knife crime extremely seriously, which is why, as my honorable friend has said, we changed the law so that any adult who commit
Mar 13, 2013 11:00pm EDT
into deficit the day he was sworn in. i've served on this committee since i was first sworn to the united states senate in 1993 over the past 20 years, the country has taken two different approaches to her budget and each of which lead to very different outcomes. turnover the history the first of the year but assume it was critical decisions tomorrow, it's important to highlight the history one more time. in 1992, deer ran for office, the federal government was running a deficit of under 5%. president clinton ran that year i promise of tackling the debt and deficit responsibly while continuing to invest in jobs and the middle class. since i was excited to have a chance to get additional reality when i came onto the committee. as we all remember, none of us on toward what the balance and responsible approach. when he proposed proposed raising taxes on the wealthiest americans alongside responsible spending cuts, republicans jumped at the data to anyone who would listen how devastating that would be for our economy. .. >> middle-class workers were getting prosperity. there was a growth spur
Mar 19, 2013 1:00pm EDT
and better jobs for the american people. after all the budgets that never balance and record deficits, job creation, we would be coming off the four best years in modmodern american history, because we had four $1 trillion deficits in a row. another that will, quote, only be $850 billion this year. that's yielded us less than 2% growth a year. we all know if we took the number of americans that have left the work force and recalculated unemployment rate, it wouldn't be 7.8%, it would be about 10.5%. the path that my friends on the other side recommend doesn't work. and the balance in both the r.s.c. budget and ryan budget are much more promising course. they achieve that balance by not raising taxes, while not raising taxes. i think that's very important, too. we certainly aren't undertaxed in this country. my friends on the other side clearly believe that we are. they are going to offer multiple tax increases in all their budgets. i like the budget that does not require tax increases. finally, both these budgets, the republican study committee budget and the republican budget, come to gri
Mar 18, 2013 12:00am EDT
independent office of budget responsibility are absolutely clear that the deficit reduction plan is not responsible for low growth." this is not what they say and will he acknowledge that today? >> returning to his earlier interesting thing about british politics right now is i've got the top team i want and he's got the top team that i want, too. long may they continue. now on the issue of the office of budget responsibility, the point of the obra is that it is independent and everyone should accept everything that it says and i do. but we should look at what it says about why growth has turned out to be lower than it forecast. it said this. we concluded from an examination of the data that the impact of external financial shocks deteriorating export markets and financial sector and eurozone faculties were the more likely explanations. that is what they said. the shadowair to chancellor, in his own press release, he said that the obr has yet to be persuaded if i have to tell him, his plan of more spending and more borrowing and more debt, the country will never he persuaded. >>
Mar 14, 2013 1:00am EDT
effective ways to reduce that debt and the deficit. it is a plan for economic weakness. it is a receiving vision of american greatness and innovation. it is a harsh vision for our great country. i yield back to my colleague. >> i yield to an half minutes. -- two and a half and it's. >-- minutes. >> thank you. i own a business. i understand the tough choices needed to balance a budget. i understand the tough choices it takes to grow jobs. i have to say you're not making tough choices when you produce a budget that hurts middle-class families and slashes programs for middle-class. you're making a dangerous choice that will have real impacts on families across the nation. the economic policy institute found that the he was a planned release to date will result in two american jobs next year alone and stalled economic recovery. that is on top of sequester cuts in jobs we will see this year. the biggest threat to our long- term economic security at this time is not the deficit. it is the economy. it is the lack of jobs. it is a future where the u.s. cannot compete with its global peers. this w
FOX Business
Mar 12, 2013 10:00pm EDT
that this budget cuts almost 2 trillion from deficits over ten years. and they asked rich to pay their fair share. wih the white house insisting to the press that the american people have given them a mandate to take this approach. >> we need to ask the wealthy to contribute to deficit reduction, and that is a position that the public widely supports. i will wait for the budget to be putorward in senator murray to do that. we expected to be balanced, to have the principal balance inherent in its proposals. it is not -- in that don't expect it will be -- an agreement on every item of the president's proposal, but it will be consistent with the president's balanced approach. lou: the latest poll however contradicts jay carney claims of wide public support. the president's job approval rating seek -- sinking to a 45%. the president's lowest rating in the polls since november of 2011. meanwhile, republicans blasting president obama for not producing his own budget proposal before the senate and the house present there's. senate minority leaderitch mcconnell seizing the opportunity to point out that t
FOX Business
Mar 17, 2013 1:00am EDT
are only raising taxes to raise spending also. you are not paying off the deficit. governor scott and perry, come to the states where you don't have to pay a state income tax. that's what businesses want. this democratic budget is the biggest joke i have ever seen. 10 years from now. you are still running a trillion dollar deficit. nothing is done with this. it is it horrible. >> jamu? >>gain, the deficit is not our problem. we need to find the resource. >> wait a minute. >> that sounds like greece. >> that is not our biggest problem. you are making a mountain out of a molehill. >> i don't think we are making a mountain out of a mole hill. >> a fair and balanced approach and seeing some taxings going up will help us with the infrastructure spending that the economy need and help the statings and citis and local governments that have massive budget cuts. >> we are focusg rht now and we are talking about tax hikings. we are not talking about spending cuts. but talk about tax hikings. gary, respond to this right now. we are in a recovery that is not doing very well. you have shown us the histo
Mar 20, 2013 7:30am EDT
's this job that has seen the deficit come down by a third since he became chancellor. and private sector jobs. he's cutting the country out of a whole we were left in by the party opposite. [cheering and applause] [inaudible] >> the prime minister welcome. the country's first local enterprise fund people who care have raised 400,000 pounds to invest in businesses and encouraging enterprise securing employment and in so many others where they lead the rest of the country -- [inaudible] i'm sure my friend is right about that the leadership of all things. he makes an important point, need to see more small businesses start, more enterprise. we need to see more to keep the private sector going. >> alex cunningham. >> rising unemployment remains an issue in my constituency. based on the reemployment and recession which claims hard working families in the most vulnerable for the obscene tax for millionaires. [cheering and applause] -- looks at the figures today he'll see there are 131,000 more people in work over the last quarter, we have seen 600,000 more people employed compared with a year ago,
Mar 19, 2013 5:00pm EDT
, there is a budget, and it is well-done. and it has strong deficit reduction and strong investments. it's balanced in a way that the ryan plan is not. it saves medicare where he destroys it. it invests in education and infrastructure, where he destroys that. his budget budget is a wrecking. our budget, you should the able leadership of senator murray, is a path of -- an optimistic path to our future, not a pessimistic, painful plan that mr. ryan has put forward in the name of the republican, you are a filibuster, and it is possible that we could end it, but i will tell you this: we are trying for some friendship and comity across the aisle right now. we want to keep the government open. okay, so the senator from kansas stood here last night and said, the reason he is filibustering -- he never used that word, but the reason he is insisting that we spend 30 more hours, 40 more hours, 50 more hours on this, last year's business, which is last year' year's appropriation, is because he demands to have a vote on his amendment that he feels very strongly about. and it has to do with
FOX Business
Mar 17, 2013 8:00am EDT
on the deficit, that is moving us in the wronging direction. if we want to talk about tax cuts, give the corporations that are sitting on records and the dow closed at record highs, give them a tax cut to hire new workers. >> toby, tax hikings are the issue here. this is what dems are callin for. is this the time with the recovery, so, so iffy to do that? >> no remember the president said if you don't go up the tax hikes, i am not do a budget. you can't say he is not playing games here. we created the most jobs in '95 to 2000 in that time frame. were we cutting taxes or paying companies to hire people with tax credits, no? >> you hire somebody that is an investment and when we make an investment, that allowed people to say if my investment is successful, and then we'll generate capt cament. we don't need tax credits. you hire because of the good investment. jon as. do you need tax hikings even in the tepid recover? >> we already had tax increases this year and some of them are on hiring and the pay roll tax returning to the same level. there is drags on the economy and we'll need mor
FOX News
Mar 16, 2013 8:00am PDT
hire new workerings, spending cuts and focusing on the deficit, that is moving us in the wronging direction. if we want to talk about tax cuts, give the corporations that are sitting on records and the dow closed at record highs, give them a tax cut to hire new workers. >> toby, tax hikings are the issue here. this is what dems are calling for. is this the time with the recovery, so, so iffy to do that? >> no remember the president said if you don't go up the tax hikes, i am not do a budget. you can't say he is not playing games here. we created the most jobs in '95 to 2000 in that time frame. were we cutting taxes or paying companies to hire people with tax credits, no? >> you hire somebody that is an investment and when we make an investment, that allowed people to say if my investment is successful, and then we'll generate capt cament. we don't need tax credits. you hire because of the good investment. jon as. do you need tax hikings even in the tepid recover? >> we already had tax increases this year and some of them are on hiring and the pay roll tax returning to the same lev
Mar 14, 2013 12:30am PDT
that revenues come in lower than expected, the deficit would be larger, so there is some sensitivity here. >> and that's 134 million over five years? >> over five years, that's right. >> got it, thanks. >> so, going back to just in term of what compromises that 578 million dollars of revenue growth, the largest portion of that being our property tax which is our largest overall local revenue source, though business taxes and our hotel and sales taxes are as growing over that time period. this slide highlights for you wla the projected growth rates are in the plan, so you can see, you know, stronger growth rates in the early first two years and more moderate projections in the subsequent years. on the expenditure side, our -- the city's expenditures are projected to increase by 1.1 billion dollars over the five year period, that's about 25% growth, and the largest share of that is our salary and fringe benefit costs which are growing we're projecting 460 million dollars, there are a number of citywide cost increase that is are assumed in this plan, things like fully funding our capital pla
Mar 15, 2013 9:30am PDT
50 million dollar budget deficit from the department of public health, how does this proposed increase impact that because i'm assuming this is something based on what's been communicated to me around the department of public health, this is a consistent issue and so when we look at potential growth, are we looking at the fact that we're also absorbing the deficit or we will maybe need to absorb the deficit of the department? >> that's an excellent question, so included in that first number on the page, the 141.9 million dollars is our best projection of what that supplemental will cost the city next year, so that number includes the operating shortfall that they're experiencing this dwraoer and how that affects next year, so it's reflected here on the -- in the shortfall projection. >> so, which is why there's still -- >> 57 million dollar shortfall to start with. >> thank you. >> i think what's important to think about the health department, the department will be before you in two weeks to talk about this in more depth along with issues related to the supplemental, is that
Mar 12, 2013 11:00pm PDT
, portrayed as some sort of a deficit hawk. yet when i'm reading your article, your analysis and others, what i'm getting to, he's not a deficit hawk at all. basically he's a guy who wants to shift economic wealth or opportunity from the bottom or -- to the top. he wants to create an ayn rand existence where the winners make all the money. the looters as they call them in those books get screwed. i'm just asking, how does he keep getting this image of being a deficit reducer when he doesn't do it? >> washington has a very short memory. the important thing, you're clear on this. ryan was not a deficit hawk. go back in his career. he voted for the bush tax cuts, unfunded wars for iraq and afghanistan, voted for the unfunded medicare prescription drug benefit. he had a social security privatization proposal. in 2005, the george w. bush administration rejected because it would be too expensive. the transition costs would be in the trillions of dollars. what he found later on, the way he could get these policies taken more seriously, not seen as so radical, was to bring them in under the cloak of
FOX News
Mar 17, 2013 3:00pm PDT
would cut the deficit $4.6 trillion over ten years, all through spending cuts. the democratic plan would cut the deficit $1.8 trillion half through spending cuts and half through tax hikes. senator corker, let me start with you will senate republicans accept a tax increase if you get serious entitlement reform and cuts? >> i think senate republicans and all republicans want to see a 75 year solution to entitlements and i think republicans are joined in wanting to see tax reform so to the extent that generates revenues and how that is scored obviously that will be debated as we move ahead but i think all of us understand the real issues driving the deficit is in our o country are the entitlements. we want to see these available for generations to come. >> chris: but real quickly you you understand the price for entitlement reform in any deal would be a tax increase. would you buy that and what do you think are the prospects there willle be a deal sometime before this summer? >> well, again, i think there by the way is a chance on a deal. i know the president is saying the right things and
Mar 13, 2013 5:00pm EDT
and deficits under control will also create jobs and build the foundation for prosperity from the middle out. tomorrow we will continue this discussion and vote on a plan. then we will move this debate here to the senate floor and then hopefully work towards a balanced and bipartisan agreement with the house of representatives while the american people have a chance to weigh in. mr. president, i believe our budget must meet not just one but many pressing challenges of our time. we've come a long way since early 2009 when president obama entered office facing massive deficits and an economy that was shedding hundreds of thousands of jobs per month. now we've made progress towards getting our debt and deficits under control, and we've added back jobs, but the recovery isn't as strong or as fast as it needs to be. millions of workers continue struggling to get back to work, and we still have some very serious challenges when it comes to our medium- and long-term deficit and debt challenges. in the coming weeks and months, we will be asked to make tough choices as we work to tackle these challen
Mar 16, 2013 12:00pm PDT
pipe hive and so we begin here with this graph the federal budget surplot plus or deficit. obviously it's been some time since we have run anything like a significant budget surplus we went into the recession carrying a farrell substantial deficit and obviously that really ballooned and got much much worse and what we are facing now are really the biggest bulletin deficits that the united states economy has faced since the second world war we are moving in the right direction it's getling smogger and it's still a farrell daunting challenge and this is what was westbound bend the whole fiscal cliff last year and we ended up with an 11th hour deal to avoid the worst of the fiscal live kcliff and i'm not going to read all of the stuff on this slide but basically what we got was tax increases that effect the working poor primarily and the very affluent and not really not much of an impact on the middle class and you can may be have your own political opinions about that but the spending cuts didn't really take much effect at all. the spending cuts are now poised to go into effect march 1
Mar 14, 2013 7:00am EDT
, trimming fat, and reducing costs. $500 billion of our deficit reduction comes from responsible savings on the domestic spending side, including 275 billion in health care savings. are no sacred cows. we put everything we can on the table. we do it in a responsible way that preserves, protect, and strengthens the programs like medicare and medicaid that the american people strongly support. our budget saves to $140 billion by carefully and responsibly reducing defense spending, while giving the pentagon enough time to plan and align the reductions with the withdrawal of troops from overseas. -- $240 billion. host: joining us by phone is a staff writer from roll call. guest: it's good to be here. host: what is the take away from what the senator unveiled? guest: i think the headlines it is the contrast between what senator murray has unveiled and will be going cruciform will mark up and amendment process today versus what we saw go through a similar process yesterday in the house with a proposal by house budget chairman paul ryan. most of that distinction was highlighted in the clip you
FOX News
Mar 17, 2013 9:00am PDT
needs to be part of deficit reduction. we also need to do this in a select way. these across-the-board sequestration cuts are not how we as well govern. we should be specific as to which programs are priority programs and which programs can be cut. i think that's where we are trying to find common ground between the democrats and republicans. there are discussions taking place among my colleagues on both sides of the aisle to try to find that common area of agreement. >> shannon: we all as americans wish you the best. i want to give you a chance to respond to criticism from jeff sessions. he says the senate budget, proposed and voted on by the committee is full of gimmicks and raises taxes by $1 trillion and increases spending and has no plan and makes no claim to ever balance the budget? >> well, the democratic budget from the senate -- it has more deficit reduction than the simpson-bowles proposal that we all thought was the right framework, just 2 years ago, so i think it is serious. it reduces the deficit by a couple trillion dollars, $2 trillion. we have already done $2.
Mar 15, 2013 6:00am EDT
quote the cheney who said ronald reagan taught us deficits do not matter. dick cheney was wrong. he is wrong then and he is wrong now. deficits matter. anyone who supported the bush has no business talking about debt. [booing] i helped bill clinton balanced the budget and built a surplus because we had good economic times. good economic times should pay down the deficit as clinton did but to reagan and bush did not. in bad times you have to stimulate and the airtime as president obama is doing. it is like listening to lectures on hygiene from type 40 -- typhoid mary. is more important to america's pursuit of happiness? which is more dangerous to america's pursuit of happiness? eight 350 format before a 44 ounce big gulf. if you come to my house, you would find guns but no cans of soda. i have the right wing position on the giant drink soda thing. i do not like the idea. idea of thee the government telling me what size soda i can drink. i am with tucker and probably most of you. i have the right wing position on gun safety. i have the same as ronald reagan who was for a waiting time
Mar 15, 2013 7:00am EDT
. but that is a little out of control, but it's coming down. or the deficit is coming down. agree with joe biden, get out of the way and at let the reasonable democrats and reasonable republicans get together and pass something. it's not working the way they're doing it now. host: thanks for the call. from "politico," senator joe manchin is key to the gun control talks. the story points out that he could be president obama's best joke for a bipartisan and packaged this year. there is this from blumberg's business week -- carol is joining us from riverside, california, democrat. caller: good morning. i remember a few years ago catching cpac and one of the republicans said they accomplished one of their goals getting rid of keith olbermann off of tv. i thought that was weird. getting to the point, the way i see it is as long as all these big interests are going to have all the money, like 33% of the money and the havele on the bottom, 60% - 3% of the money. , long as that is going on they're going to stick to that, nobody is going to get anywhere. it is either going to take all the people in america comin
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Mar 13, 2013 5:00pm PDT
they're cutting almost $3 trillion out of the deficit. but what they don't tell you is that is over a 10-year period. >> i think what's important to recognize is that we have already cut 2.5, $2.7 trillion out of the deficit if the sequester stays in you have got over $3.5 trillion of deficit reduction already. so we don't have an immediate crisis in terms of debt. in fact, for the next 10 years, it's going to be an n. a sustainable place. >> bill: wow. with all due respect few economists agree with the president that a debt heading toward $20 trillion can, quote. sustainable. in fact, there have been no real cuts. democrats are just slowing down the rate of spending. not eliminating or reforming wasteful programs. the sad fact is that barack obama not gonna change his opinion, no matter how much data is presented. he believes the massive federal debt will not harm the country, period. and so he operates under that assumption and says this: >> my goal is not to chase a balanced budget just for the sake of balance. my goal is how do we grow the economy, put people back to work and if
Mar 17, 2013 8:00am PDT
our first order of business will be to get our deficits and debt under control. >> then just this week, a different tone. he said we don't have an immediate crisis in terms of debt. in fact, the next ten years it's going to be a sustainable place." congressman van hollen, why the change? >> it's not a change. they're totally consistent. right now our big problem is to sustain the economic recovery. we've seen momentum in the job market. and the last thing we want to do right now is to put the brakes on that. in fact, one-half of this year's deficit is due to unemployment, the fact that more people aren't at work. so what the president saying our focus right now should be to get people back to work, sustain the recovery, and then reduce the deficit in a measured, balanced way. there's no doubt that we have to do it and the budgets the president will present and the ones we will present will do that. it will put us on a sustained downward trajectory on deficits. but our priority is job growth. >> this is the point, right? his argument is don't get us in the middle of austerity in the nex
Mar 13, 2013 6:00am PDT
of 2011. the goal now is to find some sort of compromise deficit reduction deal before the summer. but president obama is expected in this meeting to bring up other items including gun control, raising the minimum wage and cyber security. when it comes to finding a deal on the deficit, the hill reports some senate democrats fear they will make too many concessions which is not an unreasonable concern considering the way he's negotiated in the past. >> president obama comes back to the white house this afternoon to meet with secretary of state john kerry then a group of private sector ceos to talk about cyber security. afterwards, it is another meeting with business leaders this time to discuss immigration reform. a meeting with new treasury secretary jack lew and over to the st. regis hotel where he will give a speech to organizing for action. that's a nonprofit that emerged out of his re-election campaign. and today is the first full day of the papal conclave. black smoke rose from the chimney of the sistine chapel yesterday evening and again this morning indicating no 2/3 consen
Mar 18, 2013 4:30am PDT
of cloud cover. how do we need that rain? very badly. santa rosa is nearly 6.5" in deficit. 5" in deficit in san francisco and more than 3" in deficit in san jose. today we are starting off cool with clear conditions, 30's to mid-40's. the clouds will increase through the afternoon. a mild day with democrats in -- with temperatures in the upper 50's at 4:00, and mid-50's at the coast and upper 50's to low 60's. tomorrow the clouds will be getting thicker and drop rain in the evening. the best chance of rain is tuesday night into wednesday morning with lingering showers wednesday afternoon and the day on thursday looks brighter. >> golden gate bridge is free with no road work. it is a nice drive. from the tunnel into san francisco, it is nice. you will not be able to pay cash after the 27th to get across the golden gate bridge. we have a solo spin out in central lafayette westbound 24 to the right shoulder. checking the drive from the central valley right now, it is looking good with a lot of green. that is what we like to see coming up and over the pass into livermore. >> it was a plot ri
Mar 15, 2013 9:00am PDT
overall progress on the city's structural deficit. as you'll also remember, the five-year plan, it requires that we both present what that gap is and then propose financial strategies about how to eliminate the gap between revenues and expenditures. so, what i thought i would do is kind of walk through some high level assumption and then talk about in more detail about what's going on in the five-year financial outlook, so the plan itself assumes the budget that was adopted last year for 13-14 as the base case in most scenarios, so that means things like our capital funding is assumed at the level that it was adopted in the budget last year, inflation on materials and supplies on grants to non-profits that's assumed at the level it was adopted last year, the one major difference that i would highlight for you now and i'll mention it again later is how we're treating the prop h public education enrichment fund baseline in which we defer to contribution last year in the second year and our projection today assumes that that's fully funded. >> ms. howard, just to refresh memories,
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